Pros
I've never worked for a company that cares for its employees like the current Patch does. When management makes changes, they explain why-- and are happy to admit any failures, pick back up and try again. As a mother with young children, I find the overall flexibility the job affords (so I can take my kids to school events, extra curricular activities, be home when they are sick, and more...) far outweighs the need to jump on breaking news during "off" hours. It's great to form connections inside the community where you live and be known as "the Patch reporter" to go to when something is happening.
Cons
You really do have to learn how to manage your time. Also, the pace is not for the faint of heart, but those who have grown up in the digital age of media or evolved with the industry will be able to handle the workload.